The U.S. Departments of Energy and Agriculture have released joint plans to accelerate the development of a sustainable biofuels industry.
The National Biofuels Action Plan outlines interagency actions and accelerated federally supported research efforts in seven areas including: sustainability; feedstock production; feedstock logistics; conversion science and technology; distribution infrastructure; blending; and environment, health and safety
DOE has dedicated more than $1 billion through 2009.
The NBAP will serve as a blueprint, according to the agencies, on how to reach President Bush’s “Twenty In Ten” goal, which calls for cutting U.S. gasoline consumption by 20 percent over the next 10 years.
Although the U.S. government is working to curb America’s consumption of gasoline by investing in renewable energy and cap-and-trade schemes, a recent report by the Congressional Budget Office finds that carbon tax schemes may have limited effects, Mongabay.com reports.
A Congressional Budget Office study estimates that a carbon price of $28 per ton would increase gas prices by 25 cents per gallon, while a $200 per ton tax would increase prices by less than $2.
The findings indicate that the cost of climate change legislation may be lower than the industry claims, according to Mongabay. In addition, it also reveals that efforts to curb CO2 emissions through a carbon tax or cap-and-trade scheme may have limited effects.